Looted Art At Madrid’s National Archaeological Museum?

“The objects in question were bought by the Madrid museum in 1999, as part of a major collection of 181 ancient artefacts from the Etruscan period, Ancient Greece, Rome, Egypt and Spain, spanning the fifth century BC to the fifth century AD. The museum … paid $12m to the 82-year-old collector and entrepreneur José Luis Várez Fisa for the collection.”

Formulating An Argument For Funding The Arts

“To use the language of the 18th-century economist Adam Smith, the value of the arts ‘in use’ precedes their value ‘in exchange’. Once something is deemed desirable, the market can indeed establish its commercial price. But although the market can trade in the products of culture, it cannot express the value of culture as a process, or what it does.”